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CEO says Sony is on track for comeback

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By The Associated Press
Friday, Jan. 18, 2013, 12:01 a.m.

Sony's chief executive says the struggling Japanese electronics and entertainment company is headed in the right direction, although its comeback is not yet complete.

Kazuo Hirai says Sony Corp. is now more nimble and focused under his leadership, which began nine months ago.

Sony has lost money for the past four years, and has fallen behind powerful rivals such as Apple Inc. and Samsung Electronics Co. in profitability and innovation.

Hirai acknowledged Sony had gotten bogged down in its sprawling bureaucracy. He says he is making a point of personal involvement in product development to make sure good ideas don't get squelched.

Sony's new waterproof, full-HD cellphone and 4K or “ultra-HD” TV received mostly positive feedback at the recent International CES gadget show in Las Vegas.

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